France: Standard refund - possible delay in payment of reclaimed amounts
Clearstream Banking1 informs customers that there might be delays in the payment of amounts of tax reclaimed.
Background
Standard refunds addressed to Clearstream Banking are usually paid from reserve of money resulting from the tax amounts withheld on dividend payments.
Within the current contingency context, many companies have decided to delay the general meetings in which they vote for the payment of dividends. This will also delay the payment of those dividends.
Consequently, Clearstream Banking might not be in position to pay all the standard refunds addressed due to a lack of liquidity.
Impact on customers
Customers addressing standard refund requests must be aware of the potential delay in the treatment and repayment of their demand.
Further information
For further information, please contact the Clearstream Banking Tax Help Desk or Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.